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2344

華邦電 Semiconductor As of 2026-06-17 Updated daily after market close

strong quality, fair valuation.

2 active signals
252d high Revenue ≥20%
This page refreshes daily after the close. Add 華邦電 to your watchlist to track signal changes on your next visit.
Valuation 18Quality 95Growth 96Momentum 97Chips 69

Is 華邦電 a buy? Fundamentals and valuation first

  • Top-tier profitability.Operating margin beats ~95% of the market. Latest quarterly ROE ≈ 8.5%.

  • Valuation is neutral.PE is in the 80th market percentile; within its own history, PE is around the 84th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 3.0% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 182.0%, above the 20% growth threshold.

  • Signals are active now.On the latest data, signals such as 252-day price high, Revenue YoY ≥ 20% are active — see the historical forward returns after each occurrence below.

Chip flow

Bullish +0.47
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 香港上海匯豐 holds 60,196 lots
  • sellers have 59,652 lots left, ~685 sessions to clear

Window from 2026-01-17 · Price +71% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 香港上海匯豐 has accumulated 60,196 lots since the start (sold 5%), still adding.
  • Main distributor 元大證券 peaked at 55,319 lots, has sold 33%, 36,827 left, ~685 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +0.40pp, mid holders +44, retail -0.49pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -74,463 lots (inferred from branch profile, mostly hedging — not necessarily bearish, not case-confirmed).
Branch inventory reconstruction
Accumulating holders Branches that accumulated shares during the window and still hold positive inventory; they are the absorbing side.
Distributing sellers Branches that built inventory earlier and have been selling it down; the remaining number estimates what has not cleared.
Net-short desks Trading-desk branches with negative inventory or net selling, often hedge, offsetting, or short-term flow. It is not automatically a bearish view.
Accumulating
香港上海匯豐統一中國信託永豐金-匯立港商野村群益金鼎
Distributing
元大證券凱基-台北台灣摩根士丹利富邦證券富邦-新店凱基-站前
Desks
own scale
摩根大通元大-館前美商高盛國泰證券
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 香港上海匯豐 +60,196
    sold 5%· still adding
  • 統一 +33,807
    sold 6%· still adding
  • 中國信託 +22,770
    sold 0%· still adding
  • 永豐金-匯立 +19,698
    sold 2%
  • 港商野村 +14,501
    sold 10%· still adding
  • 群益金鼎 +12,265
    sold 22%

Distributing

  • 元大證券 36,827 left
    sold 33%· ~685 sessions to clear
  • 凱基-台北 26,202 left
    sold 47%· paused recently
  • 台灣摩根士丹利 13,641 left
    sold 60%· ~39 sessions to clear
  • 富邦證券 14,189 left
    sold 42%· paused recently
  • 富邦-新店 4,059 left
    sold 80%· paused recently
  • 凱基-站前 6,416 left
    sold 62%· paused recently

Desks

  • 摩根大通 -43,053
    hedge desk · will cover
  • 元大-館前 -36,072
    unclassified
  • 美商高盛 -15,551
    hedge desk · will cover
  • 國泰證券 -11,616
    unclassified
Still selling 59,652 lots ~685 sessions to bottom at most
Recent buy/sell force +83,961 absorbed / -7,822 sold buyers slightly ahead
Hedge-desk net short -58,604 lots potential cover-buying, not selling pressure
TDCC big holders · absolute-holding cross-check
>1000-lot holder share Retail (<400 lots) share Price (right axis)

Direction matches: big-holder share rose while retail share fell.

Describes chip flow, not investment advice. Branch data discloses only high-volume branches with ~1-day lag; TDCC is weekly. Inventory is a relative reconstruction from the window start, not absolute holdings.

Historical evidence

Signals active now

These signals are true on the latest data, with this stock's own historical forward-return stats after each occurrence.

252-day price high (breakout)

Active

Adjusted close makes a new 252-day high; repeats within 20 days counted once.

25 historical occurrences (since 2009-12-23)
Average forward return after 252-day price high (breakout)。20-day: Win 56%, Sample 25, Median +3.23%, Excess +9.11%, Beat mkt rate 48%；60-day: Win 54.2%, Sample 24, Median +6.31%, Excess +15.72%, Beat mkt rate 45.8%；120-day: Win 54.2%, Sample 24, Median +3.83%, Excess +21.63%, Beat mkt rate 50%

120 days after: historical avg +34.63%

20-day +11.09%
60-day +20.84%
120-day +34.63%
20-day
60-day
120-day
Win
56%
54.2%
54.2%
Sample
25
24
24
Median
+3.23%
+6.31%
+3.83%
Excess
+9.11%
+15.72%
+21.63%
Beat mkt rate
48%
45.8%
50%

Over 24 occurrences, 120-day forward avg gained 34.63%, beat the market by 21.63 pts; win rate 54.2%.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 181.96%

Monthly revenue YoY ≥ 20%; event date is the first trading day after the filing deadline (no look-ahead).

57 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 58.3%, Sample 48, Median +3.01%, Excess +2.38%, Beat mkt rate 47.9%；60-day: Win 58.7%, Sample 46, Median +3.55%, Excess +2.84%, Beat mkt rate 45.7%；120-day: Win 48.8%, Sample 43, Median -1.37%, Excess +2.17%, Beat mkt rate 44.2%

120 days after: historical avg +10.57%

20-day +4.94%
60-day +9.37%
120-day +10.57%
20-day
60-day
120-day
Win
58.3%
58.7%
48.8%
Sample
48
46
43
Median
+3.01%
+3.55%
-1.37%
Excess
+2.38%
+2.84%
+2.17%
Beat mkt rate
47.9%
45.7%
44.2%

Over 43 occurrences, 120-day forward avg gained 10.57%, beat the market by 2.17 pts; win rate 48.8%.

Valuation regime and subsequent returns

Each day's PE is converted to its own-history percentile (as of that day), then we look at adjusted-close returns over the next 240 trading days by valuation regime.

PE percentile bandSample days240-day avg returnMedianWin rateAvg excess (vs index)
0-20 497+17.7% +23.4% 77.7% -6.5%
20-40 188-0.5% -8.1% 33.5% -6.2%
40-60 461+39.7% -12.2% 45.3% +27.3%
60-80 338+6.4% -14.2% 46.2% -4.7%
80-100 You are here520+101.6% +63.4% 80.8% +59.1%

Percentiles use an expanding own-history window (no look-ahead); forward return is 240 trading days on adjusted close. Sample days overlap; distribution is indicative only.

Current PE ≈ 59.05, at the 84.3th percentile of its own history (80-100 band).

Valuation × momentum historical grid

Every day in its own history is bucketed by valuation tercile (own-history PE) and 60-day momentum sign into six cells; we show adjusted-close returns over the next 120 trading days per cell.

Valuation
Momentum
Cheap (own-history bottom 1/3)
Mid
Expensive (own-history top 1/3)
60-day momentum up
+12.8%
Win rate 85.1% Excess +6.9%
281d
+5.6%
Win rate 48.9% Excess -1.9%
427d
Now
+39.5%
Win rate 54.9% Excess +25.7%
486d
60-day momentum down
+8.4%
Win rate 62.5% Excess +4%
325d
+10.3%
Win rate 56% Excess +5.3%
284d
+136.8%
Win rate 50.8% Excess +107.7%
321d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 486 historical days, 120-day forward avg gained 39.5%, win rate 54.9%, beat the market by 25.7%.

Days = trading days in this bucket; returns use adjusted prices, ex-costs. 60-day momentum: direction of this stock's price over the past 60 trading days.

Does this signal hold up across the market

Over the past 242 months, on average ~404 stocks per month met “monthly revenue YoY ≥ 20%”; their adjusted-close return over the next 60 trading days averaged 6.94% (equal-weighted), beating the market by 2.37 points on average, and outperformed the TAIEX total-return index in 64.5% of months.

Each month, equal-weighted 60-day forward adjusted return of all signal-matching stocks, then averaged across months; excess vs the TAIEX total-return index.

Signals not active (historical stats for reference)

These are not occurring now; historical samples shown for comparison.

Foreign net buying for 5 straight days

Pending

Foreign net flow (ex-dealer) positive for 5 straight days; event on day 5; repeats within 20 days counted once.

54 times historically; 60-day forward avg +12.34%, win rate 61.5%, beating the market by +8.68 pts on average.

What does 華邦電 do? Company profile

半導體業；利基型記憶體、快閃記憶體與邏輯IC 台灣證券交易所上市

Overview

2344 對應證券為華邦電，係台灣證券交易所掛牌之普通股，非ETF、ETN、權證或特別股。公司成立於1987年9月29日，1995年10月18日上市，總部位於台中市大雅區中部科學園區科雅一路8號，另有竹北、中科、高雄等營運與製造據點。董事長兼執行長為焦佑鈞，總經理為陳沛銘；2026年5月29日董事會全面改選後續任焦佑鈞為董事長。實收資本額約新台幣450億元，已發行普通股約45.00億股。2026年3月15日年報資料顯示，持股5%以上主要股東為華新麗華股份有限公司987,500,540股、持股21.94%，金鑫投資股份有限公司284,000,493股、持股6.31%。員工規模方面，年報列示含新唐科技等子公司，2026年3月15日合計8,128人，其中技術人員5,499人、管理及業務人員1,792人、助理技術員837人；平均年齡43.52歲，平均服務年資12.99年。華邦電同時擁有記憶體與邏輯IC自有產品及技術，從產品設計、技術研發、晶圓製造到自有品牌行銷全球。

Business

華邦電主要業務分為記憶體事業與邏輯事業。記憶體事業聚焦Code Storage Flash與Customized Memory Solution，產品包括NOR Flash、SLC NAND Flash、TrustME安全快閃記憶體、Specialty DRAM、Mobile DRAM、LPDDR、DDR、KGD與客製化高頻寬記憶體CUBE；邏輯事業主要由子公司新唐科技推動，產品涵蓋MCU/MPU、Audio、雲端與商務運算特殊應用IC、硬體安全、影像感測、電池監控、馬達控制與功率元件等。2025年度合併營收新台幣894.06億元，年增9.55%；以合併報表產品別看，記憶體產品占營收66%，邏輯產品占34%，毛利率35%。記憶IC應用分布相對均衡：通訊24%、車用和工業用27%、消費產品29%、電腦及週邊20%；邏輯事業應用則為車用及工控40%、電腦及週邊27%、智慧型手機20%、消費性13%。商業模式為自有品牌IC設計、晶圓製造、測試封裝外包與全球銷售服務並行；主要原料包含矽晶片、製程化學品、特殊氣體、靶材等，來自美國、日本、韓國及台灣等半導體材料供應商，封裝與測試採兩家以上合格供應商分散來源。年報揭露2025年度單一客戶SILICON APPLICATION CORP銷貨新台幣111.76472億元，占合併銷貨12.5%，其餘客戶未具名；此公司中文為品佳股份有限公司，為半導體通路商且非台股掛牌公司。公司亦透過世平、品佳、聯強、Arrow等通路與全球品牌、系統廠及模組廠接觸終端需求。

Outlook 2025–2028

2025年公司受記憶體需求結構改善與價格回升帶動，合併營收恢復成長，記憶體比重回升至66%。2026至2028展望主要由四項動能支撐：第一，AI伺服器、資料中心與邊緣AI推升記憶體需求，國際記憶體大廠資本支出偏向HBM、DDR5與3D NAND，使DDR4、LPDDR4等成熟世代供給擴張有限；公司管理層於2026年法說指出DDR4與LPDDR4供給缺口可能延續至2028年以後。第二，高雄廠導入16奈米DRAM製程，鎖定8Gb/16Gb DDR4與LPDDR4，並支援CUBE相關生產；2025年年報亦提到16奈米製程完成開發並在新年度導入量產，20奈米成為主力製程。第三，Flash產品持續推進45奈米NOR Flash與24奈米SLC NAND Flash量產與高容量化，應用延伸至AI伺服器、資料中心、車用、工業物聯網、AIoT、穿戴與健康照護。第四，CUBE客製化超高頻寬記憶體以高頻寬、低功耗、小尺寸與彈性設計切入邊緣AI、SoC、CPU chiplet及新消費電子，並結合3DIC、矽中介層、KGD與先進封裝能力。中長期風險包括記憶體景氣高度循環、價格急漲後的庫存修正、中國新供應商擴產對中低密度產品的價格壓力、設備交期與良率爬坡不確定性、CUBE商業化速度、客戶集中度、美元匯率、電力與水資源、地緣政治、出口管制及半導體材料供應穩定性。

Supply Chain

Upstream
  • 環球晶圓股份有限公司 6488 台股上櫃矽晶圓供應商；華邦年報僅揭露主要原料含矽晶片，未具名確認其為直接供應商，因此列為產業鏈上游可能關係企業。
  • 台灣嘉碩科技股份有限公司 3221 台股上櫃石英元件與半導體材料相關供應商；列為半導體材料上游可能關係企業，非華邦年報具名供應商。
  • 崇越科技股份有限公司 5434 台股上櫃半導體材料與設備通路商；華邦年報揭露化學原料、特殊氣體、靶材等由多國供應商供應，崇越屬台灣半導體材料設備通路上游，未確認為直接供應商。
  • 台灣特品化學股份有限公司 4772 台股上市電子級特殊氣體與化學材料供應商；列為特殊氣體上游可能關係企業，非華邦年報具名供應商。
  • 矽品精密工業股份有限公司 封測產業公司，已由日月光投控整併且非獨立台股掛牌；華邦年報指出封裝與測試外包有兩家以上合格供應商，但未具名。
  • 力成科技股份有限公司 6239 台股上市記憶體封裝測試服務商；屬華邦封裝測試外包環節可能供應鏈，未由華邦年報具名確認。
  • 京元電子股份有限公司 2449 台股上市IC測試服務商；屬華邦晶圓針測與最終測試外包環節可能供應鏈，未由華邦年報具名確認。
  • 南茂科技股份有限公司 8150 台股上市封裝測試服務商；華邦官網曾揭露與南茂合作循環經濟活動，是否為主要封測供應商需再以採購資料確認。
  • ASML Holding N.V. 荷蘭上市半導體曝光設備供應商，非台股掛牌；華邦擴產需前段晶圓設備，惟年報未揭露具名設備供應商。
  • Tokyo Electron Limited 日本上市半導體製程設備供應商，非台股掛牌；列為晶圓製程設備上游可能供應商，非華邦具名揭露。
  • Applied Materials, Inc. 美國上市半導體製程設備供應商，非台股掛牌；列為晶圓製程設備上游可能供應商，非華邦具名揭露。
Downstream
  • 品佳股份有限公司 英文名Silicon Application Corp.，台灣未上市半導體零組件通路商；華邦年報揭露2025年度銷貨金額新台幣111.76472億元、占合併銷貨12.5%，為唯一超過10%銷貨客戶。
  • 大聯大控股股份有限公司 3702 台股上市半導體通路集團；公開資料顯示品佳屬大聯大體系，惟華邦年報具名客戶為Silicon Application Corp.而非大聯大控股本體。
  • 聯強國際股份有限公司 2347 台股上市通路商；聯強半導體事業官網列示代理華邦電子產品，屬下游通路關係。
  • Arrow Electronics, Inc. 美國上市電子零組件通路商，非台股掛牌；華邦代理商資料列示Arrow相關據點，屬海外下游通路。
  • 宏碁股份有限公司 2353 台股上市PC品牌；華邦記憶體終端應用包含電腦及週邊，列為終端應用鏈可能受益/需求端，非華邦具名直接客戶。
  • 華碩電腦股份有限公司 2357 台股上市PC與消費電子品牌；華邦產品應用於PC、週邊與消費電子，列為終端應用鏈可能需求端，非華邦具名直接客戶。
  • 廣達電腦股份有限公司 2382 台股上市伺服器與筆電ODM；華邦Flash與DRAM拓展AI伺服器、資料中心與電腦應用，列為終端應用鏈可能需求端，非華邦具名直接客戶。
  • 仁寶電腦工業股份有限公司 2324 台股上市筆電與智慧裝置ODM；屬電腦及週邊、行動裝置終端應用鏈可能需求端，非華邦具名直接客戶。
  • 和碩聯合科技股份有限公司 4938 台股上市消費電子與通訊產品ODM；華邦記憶體應用包含通訊、消費電子與電腦週邊，列為終端應用鏈可能需求端，非華邦具名直接客戶。

Competitors

  • 旺宏電子股份有限公司 2337 台股上市；NOR Flash、NAND與ROM供應商，為華邦Code Storage Flash重要同業。
  • 南亞科技股份有限公司 2408 台股上市；DRAM製造商，與華邦在部分利基型DRAM與DDR產品上具競合關係。
  • 晶豪科技股份有限公司 3006 台股上市；利基型DRAM、Flash與記憶體IC設計公司，為華邦記憶體產品同業。
  • 鈺創科技股份有限公司 5351 台股上櫃；利基型DRAM與多媒體記憶體相關IC設計公司，為記憶體IC同業。
  • 愛普科技股份有限公司 6531 台股上市；低功耗與客製化記憶體、AI/邊緣運算記憶體方案供應商，與華邦CUBE及客製化記憶體方向部分重疊。
  • 力積電股份有限公司 6770 台股上市；晶圓代工與記憶體相關製造能力，產業景氣與成熟製程供給面和華邦有連動。
  • 新唐科技股份有限公司 4919 台股上市且為華邦子公司；在MCU/MPU與邏輯IC市場面對外部同業競爭，因控制關係不視為華邦合併層級的外部競爭對手。
  • 盛群半導體股份有限公司 6202 台股上市；MCU供應商，與華邦旗下新唐邏輯IC/MCU業務在部分終端市場競爭。
  • Samsung Electronics Co., Ltd. 韓國上市公司，非台股掛牌；全球DRAM、NAND與記憶體大廠，與華邦在記憶體市場具競爭與供需連動。
  • SK hynix Inc. 韓國上市公司，非台股掛牌；全球DRAM與NAND大廠，其HBM/DDR5投資配置影響DDR4與LPDDR4供需。
  • Micron Technology, Inc. 美國上市公司，非台股掛牌；全球DRAM與NAND大廠，與華邦在部分記憶體產品與客戶預算上競爭。
  • GigaDevice Semiconductor Inc. 中國A股上市公司，非台股掛牌；NOR Flash、MCU等產品供應商，為華邦Flash與新唐MCU相關同業。
  • Puya Semiconductor (Shanghai) Co., Ltd. 中國A股上市公司，非台股掛牌；NOR Flash、EEPROM與MCU供應商，與華邦Code Storage Flash部分產品競爭。
Sources（11）

This company profile is compiled from public sources (annual reports, filings, news and analyst reports), not finlab backtest data; the 2025–2028 outlook contains forward-looking estimates and is for reference only.

Method and limitations

  • All returns use adjusted close (etl:adj_close), already adjusted for dividends and splits.
  • Excess return is measured against the TAIEX total-return index (dividends included).
  • Valuation regime and percentile stats use an expanding own-history window (no future data).
  • Revenue-signal event dates align to the first trading day after the filing deadline, avoiding look-ahead.
  • Event samples may overlap in time; stats describe historical distribution only and are less reliable when samples are few.

This page is historical statistics for educational purposes and is not investment advice. Investing involves risk; past performance does not indicate future results. Assess and bear the risk yourself before trading.